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U.S. markets recover from steep losses
NEW YORK, Dec. 15 (UPI) -- Morgan Stanley boss John Mack is reported in line for the biggest bonus ever awarded to a Wall Street executive.
Mack, 62, will be joining Wall Street's exclusive $40 million club with stock and option grants he has coming, the New York Post reports.
Mack, who oversaw a multiyear turnaround at Morgan Stanley, was granted 461,821 company shares, valued, as of Dec. 12, at $36.2 million in a recent regulatory filing. He also received 178,945 options to buy Morgan Stanley shares, which the bank valued at roughly $4 million. Morgan Stanley's stock is up 43 percent this year.
However, Mack likely won't be No. 1 in bonuses very long. Sources told the Post they expect Goldman Sachs Chief Executive Lloyd Blankfein to collect a bonus of at least $50 million for 2006.
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